The Korean AR/VR corporation, Social Network, has announced that they have appointed BIGBANG’s Seungri as the president of their VR Division.
Seungri will be expanding his business into the IT industry with the launching of the VR franchise brand, Head Rock.
Seungri has reportedly participated in numerous aspects of the business from the creation of the brand’s concept down to the logo design.
The artist-turned-businessman attracted fundings of 29.5 billion KRW ($26.2 million USD) from Alpen Route Asset Management and Hana Financial Investment with his appointment and as such, Social Network became the first AR/VR corporation to be valued at over 100 billion KRW ($88.9 million USD).
“The two young men of Korea, President Seungri of BIGBANG and the Korean venture star, Representative Park Soo Wang, are creating a global VR corporation and we have made contributions as a lead investor. We believe they will become a global unicorn of the 4th Industrial Revolution and Hana Financial Investment will provide every means in order to aid and help them develop.” ㅡ President of Hana Financial Investment
Seungri also talked about his ambitions for the new business and promised to give his best effort for the benefit of the company.
“The future of the VR theme park industry has grown brighter with the 29.5 billion KRW ($26.2 million USD) investment from Alpen Route Asset Management and Hana Financial Investment. Using this precious investment as a stepping stone, I will do my very best to create a global VR ecosystem.” ㅡ Seungri
Seungri has previously proven himself through his successful franchise business in the food industry, which now has expanded to 50 branches, and therefore, expectations have been raised.
Meanwhile, Head Rock VR will be opening its largest and first overseas branch at Universal Studios Singapore on November 15th followed by 8 more branches in Mexico, Japan, Las Vegas, China, Seoul and Busan.